For a strategic plan you have to think about 4 key elements:
1. First is the time frame we are referring
2. Second is the general objective of the company
3. Third is the framework of actions that should be done to achieve the objective
4. Third is the set of measurable factors that establish if the objective was achieved.
The necesary steps for a successfull strategic plan are:
Step 1: Start by finding and expressing the company or organization's vision and essential values.
Step 2: Develop the action plans to realize the vision but having as central elements the stated values.
Step 3: Build up the necessary business plans that will focus on the particular products or services.
Step 4: Do a strategic analysis: the economical conditions and company SWOT analysis – company’s Strengths, Weaknesses, Opportunities and Threats.
Step 5: Put a measurements and feedback mechanism in place, in order to take corrective action.
The timing, benefits, tools, personnel involved will be covered in a future episode.
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